It’s time
for your annual finance physical! Great
news, though! This physical is one you
can do from home without having to don a medical robe. Honest self-reflection and setting clear
goals are both included in this physical, though, and asking yourself these
three questions will help get you started on assessing your financial health:
1. How much did
I save last year? Look at your last twelve months and tally up
what you were able to save. Did you
touch that savings or let it keep stacking up?
Automatic deposits from each paycheck directly in to your savings can
help you stay on track, and keeping a solid budget and savings plan can help
you keep that savings growing.
2. What are my bad money habits?
Doctors can’t help cure you if they don’t know your ailments, and the
same goes for your finances. What are
three things you did over the past year with your finances that you would do
differently next year? It could be as
simple as keeping a more up to date budget to keep your spending in line. Budgeting tools, like Honor’s Money Desktop,
can help you look at your overall financial picture including what you spend
on, what you save, and your total debt.
3. What is my financial health goal? Goals are
important both in your health and your finances. Do you want to save more? Spend less? Pay off
debt? Everyone’s definition of success
is different, but part of every physical should include looking ahead and
setting goals and benchmarks of where you want to be by the time your next
physical rolls around. Once you set your
goals, make a plan to get achieve them.
Need help with this? Stop by your
local credit union. Tell us your goals
and we can help you make a plan that fits your situation to get there!
Self-reflection
isn’t always pretty, but trust us – if you are honest about your financial
situation with yourself, identifying your goals and making a plan to get there
will be a lot easier! Don’t forget to
follow us on twitter @honorcu and let us know what you want to hear about next
week using #askhonorcu!
